This report analyzes the development trends and conditions of the Russian economy, specifically its energy sector. It also reviews the projections of carbon emissions by 2020 and beyond in the context of the Russian government's scenarios of economic development. The second section of the report focuses on Russia's position in the negotiation process on a post-2012 climate regime, including the emission limitation pledge, carry-over of the surplus of assigned amount units (AAU) beyond 2012 and the forest carbon sinks. The report is written by Dr George Safonov, State University - Higher School of Economics/ Russian Environmental Defense Fund and Dr Oleg Lugovoy, Russian Environmental Defense Fund and Dr Anna Korppoo, the Finnish Institute of International Affairs. The Nordic Ministers of Environments established the Nordic COP 15 Group early in 2008. In January 2010 the group was renamed to the Nordic ad hoc Group on Global Climate Negotiations. The main tasks of the group are to prepare reports and studies, conduct relevant meetings and organize conferences supporting the Nordic negotiators in the UN climate negotiations. The overall aim of the group is to contribute to a global and comprehensive agreement on climate change with ambitious emission reduction commitments.